On Tuesday morning (20 August, 9:35 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed following the announcement of China’s loan prime rates.
The country decided to keep its one-year loan prime rate (LPR) at 3.35% and the five-year LPR at 3.85%, aligning with forecasts based on a Reuters survey of economists.
Meanwhile, the Reserve Bank of Australia opted to maintain its benchmark interest rate at 4.35%, highlighting concerns that inflation continued to exceed the target and was showing signs of persistence.
Japan’s NIKKEI jumped by 1.78% to 38,054.68. South Korea’s KOSPI increased by 0.85% to 2,697.06, and Australia’s ASX 200 climbed by 0.28% to 8,003.
As for stocks in China, Shanghai’s SSEC dropped by 0.73% to 2,872.45. Hong Kong’s HSI slid by 0.37% to 17,504.47, and Shenzhen’s SZI contracted by 0.8% to 8,290.03.
Meanwhile, the US stock markets edged up on Monday as the Dow Jones Industrial Average (DJIA) gained 0.58% to 40,896.53. NASDAQ soared by 1.39% to 17,876.77, and S&P 500 grew by 0.97% to 5,608.25. VIX decreased by 1.01% to 14.65.
As for commodities, oil prices settled lower on Monday as efforts by the U.S. to broker a cease-fire in Gaza affected the market, coupled with concerns about diminishing demand putting pressure on prices. Brent futures lost $2.02 or 2.54% to settle at $77.66 a barrel, and the West Texas Intermediate (WTI) declined $2.28 or 2.97% to settle at $74.37 per barrel.
This morning, Brent futures edged down 30 cents or 0.39% to $77.36 a barrel, and the WTI shrank 37 cents or 0.5% to $74 per barrel.
Meanwhile, gold futures dipped by 0.1% to $2,538.8 per Troy ounce.
